CORAZON MINING LIMITED — Capital/Financing Update 2007

Oct 15, 2007

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16 October 2007

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The Manager, Company Announcement Office, Australian Stock Exchange Limited

PLACEMENT FINALISED

Graynic Metals Ltd (“the company”) is pleased to announce that the $600,000 placement by issue of 3.0million fully paid shares at $0.20cents to Australian investor clients of Indian Ocean Capital has been finalised.

The Company will apply to ASX for quotation of the securities.

Yours faithfully

Bronwyn Barnes Managing Director

Enquiries: Bronwyn Barnes Managing Director 08 6364 0518 0417 093 256

Graynic Metals Limited ACN : 112 898 825 Suite 5, Level 1, 350 Hay St, Subiaco, Western Australia, 6008. PO Box 935, West Perth, WA, 6872 Phone: 08 6364 0518 Fax: 08 6210 1872

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About Graynic Metals Limited

Graynic Metals Ltd is committed to increasing shareholder wealth through the acquisition, exploration and development of base metal mineral resources throughout Australia. The Company has key project areas in Western Australia and New South Wales within mineral provinces that have demonstrated copper, lead, zinc, nickel and gold mineralisation.

Current exploration targets include locating additional high grade resources adjacent to existing resources, testing of historic workings, drill testing of significant surface geochemical anomalies and the drilling of obvious strike and depth extensions of existing anomalous drilling intersections. Each project area has a significant land position which allows for further growth opportunities should exploration be successful.

Graynic Metals Limited ACN : 112 898 825 Suite 5, Level 1, 350 Hay St, Subiaco, Western Australia, 6008. PO Box 935, West Perth, WA, 6872 Phone: 08 6364 0518 Fax: 08 6210 1872